Core Wealth Partners LLC Cuts Holdings in Pfizer Inc. (NYSE:PFE)

Core Wealth Partners LLC lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 10.8% in the first quarter, Holdings Channel reports. The institutional investor owned 16,509 shares of the biopharmaceutical company’s stock after selling 1,996 shares during the period. Core Wealth Partners LLC’s holdings in Pfizer were worth $418,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. lifted its position in shares of Pfizer by 856.8% during the first quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company’s stock valued at $508,164,000 after buying an additional 17,957,928 shares during the last quarter. Nuveen LLC bought a new position in shares of Pfizer during the 1st quarter worth approximately $389,861,000. Starboard Value LP purchased a new stake in Pfizer during the fourth quarter valued at approximately $407,730,000. Goldman Sachs Group Inc. lifted its position in Pfizer by 51.9% during the first quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company’s stock valued at $670,407,000 after acquiring an additional 9,041,990 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Pfizer by 307.5% in the first quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company’s stock valued at $254,574,000 after acquiring an additional 7,581,030 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Trading Up 0.1%

NYSE PFE opened at $24.61 on Tuesday. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $30.43. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. The company has a market capitalization of $139.93 billion, a PE ratio of 13.09, a P/E/G ratio of 0.88 and a beta of 0.52. The company has a fifty day moving average of $24.46 and a 200 day moving average of $24.47.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.20. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. The company had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $13.43 billion. During the same period last year, the business earned $0.60 earnings per share. Pfizer’s quarterly revenue was up 10.3% on a year-over-year basis. Research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 7.0%. Pfizer’s payout ratio is presently 91.49%.

Analysts Set New Price Targets

PFE has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price target on Pfizer from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. TD Cowen reduced their target price on Pfizer from $32.00 to $28.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Bank of America increased their price target on Pfizer from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Leerink Partners dropped their price target on Pfizer from $28.00 to $26.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 30th. Finally, UBS Group increased their price objective on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Pfizer presently has a consensus rating of “Hold” and an average target price of $28.12.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.